19990 Federal Register / Vol. 72, No. 76 / Friday, April 20, 2007 / Notices 

13 17 CFR 240.19b–4(f)(6)(iii). 

14 Id. 

15The Commission recently approved a 

substantially similar proposal from the NYSE that 

included identical changes to the required 

minimum time periods between tape indications 

and openings and reopenings. See Securities 

Exchange Act Release No. 54530 (September 28, 

2006), 71 FR 58645 (October 3, 2006) (SR–NYSE–

2006–49). 

16For purposes only of accelerating the operative 

date of this proposal, the Commission has 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. 15 

U.S.C. 78c(f). 17 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3 15 U.S.C. 78s(b)(3)(A)(ii). 

4 17 CFR 240.19b–4(f)(2). 

investors or the public interest; (ii) does 

not impose any significant burden on 

competition; and (iii) does not become 

operative prior to 30 days after the date 

of filing or such shorter time as the 

Commission may designate if consistent 

with the protection of investors and the 

public interest; provided that the 

Exchange has given the Commission 

notice of its intent to file the proposed 

rule change, along with a brief 

description and text of the proposed 

rule change, at least five business days 

prior to the date of filing of the 

proposed rule change, or such shorter 

time as designated by the Commission. 

A proposed rule change filed under 

Rule 19b–4(f)(6) normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),13 the 

Commission may designate a shorter 

time if such action is consistent with the 

protection of investors and the public 

interest. The Exchange has asked the 

Commission to waive the 30-day 

operative delay.14 The Commission 

believes that such waiver is consistent 

with the protection of investors and the 

public interest because the proposed 

changes to the required minimum time 

periods between tape indications and 

openings and reopenings are 

substantially similar to a recently 

approved proposal submitted by the 

New York Stock Exchange LLC 

(‘‘NYSE’’).15 For this reason, the 

Commission designates the proposed 

rule change to be operative on April 2, 

2007, as the Exchange proposed.16

At any time within 60 days of the 

filing of such proposed rule change, the 

Commission may summarily abrogate 

such rule change if it appears to the 

Commission that such action is 

necessary or appropriate in the public 

interest, for the protection of investors 

or otherwise in furtherance of the 

purposes of the Act. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–Amex–2007–32 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Nancy M. Morris, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–Amex–2007–32. This file 

number should be included on the 

subject line if e-mail is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for inspection and copying in 

the Commission’s Public Reference 

Room. Copies of the filing also will be 

available for inspection and copying at 

the principal office of the Amex. All 

comments received will be posted 

without change; the Commission does 

not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–Amex–2007–32 and should 

be submitted on or before May 11, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.17

Nancy M. Morris, 

Secretary. 

[FR Doc. E7–7553 Filed 4–19–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55639; File No. SR–BSE–

2007–15] 

Self-Regulatory Organizations; Boston 

Stock Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change To Amend the 

Existing BeX Fee Schedule 

April 16, 2007. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on April 2, 

2007, the Boston Stock Exchange, Inc. 

(‘‘BSE’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

substantially prepared by the Exchange. 

The BSE has designated this proposal as 

one changing a due, fee, or other charge 

under Section 19(b)(3)(A)(ii) of the Act 3

and Rule 19b–4(f)(2) thereunder,4 which 

renders the proposal effective upon 

filing with the Commission. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The BSE proposes to amend the 

Boston Equities Exchange (‘‘BeX’’) fee 

schedule to provide for a credit in the 

amount of $0.0027 to which Liquidity 

Providers would be entitled. The text of 

the proposed rule change is available at 

http://www.bostonstock.com, at the 

BSE, and at the Commission’s Public 

Reference Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of, and basis for, 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in Sections A, B, and C below, of 

the most significant aspects of such 

statements. 


sroberts on PROD1PC70 with NOTICES
Federal Register / Vol. 72, No. 76 / Friday, April 20, 2007 / Notices 19991 

5Telephone conversation between Brian 

Donnelly, Assistant Vice President, Regulation and 

Compliance, BSE, and Ira Brandriss, Special 

Counsel, Division of Market Regulation, 

Commission, April 16, 2007. 

6 15 U.S.C. 78f(b). 

7 15 U.S.C. 78f(b)(4). 

8 15 U.S.C. 78s(b)(3)(A)(ii). 

9 17 CFR 240.19b–4(f)(2). 10 17 CFR 200.30–3(a)(12). 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

On November 20, 2006, the BSE filed 

File No. SR–BSE–2006–44, a rule filing 

that amended the existing BSE fee 

schedule and established a fee schedule 

for the BeX, a facility of the Exchange. 

The purpose of this filing is to amend 

certain transaction fees set forth in the 

BeX fee schedule. 

The BeX fee schedule presently 

provides for credits to Liquidity 

Providers, which credits vary depending 

upon whether the issues are considered 

Listed Issues or Nasdaq Issues as well as 

whether the trades are for a share price 

that is greater than or equal to $1.00 or 

less than $1.00. At the present time, 

Liquidity Providers in Listed Issues 

involving trades with a share price 

greater than or equal to $1.00 are 

entitled to a $0.0023 credit per share; 

Liquidity Providers in Nasdaq Issues 

involving trades with a share price 

greater than or equal to $1.00 are 

entitled to a credit of $0.0025 per share; 

Liquidity Providers in Listed Issues 

involving trades with a share price that 

is less than $1.00 are entitled to a credit 

of $0.0023 per share with a maximum 

of 0.3% of the quotation price per share; 

and Liquidity Providers in Nasdaq 

Issues involving trades with a share 

price that is less than $1.00 are entitled 

to a credit of $0.0025 per share with a 

maximum of 0.3% of the quotation price 

per share. 

The purpose of this proposed 

amendment to the BeX fee schedule is 

to standardize the credits to which 

Liquidity Providers are entitled by 

making the rate per share credit to 

which Liquidity Providers are entitled 

$0.0027 for providing liquidity in all 

issues, that is, Listed Issues and Nasdaq 

Issues, irrespective of the price at which 

the shares traded (subject to a maximum 

of 0.3% of the quotation price per share 

for Listed Issues and Nasdaq Issues 

priced below $1.00).5 This amendment 

to the BeX fee schedule will not only 

standardize the credits to which 

Liquidity Providers are entitled, but 

attract those Liquidity Providers to BeX 

by providing competitive credits for 

providing liquidity. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the requirements of Section 6(b) of the 

Act,6 in general, and furthers the 

objectives of Section 6(b)(4) of the Act,7

in particular, in that it is designed to 

provide for the equitable allocation of 

reasonable dues, fees and other charges 

among Exchange members and issuers 

and other persons using Exchange 

facilities. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange has neither solicited 

nor received comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing proposed rule change 

has been designated as a fee change 

pursuant to Section 19(b)(3)(A)(ii) of the 

Act 8 and Rule 19b–4(f)(2) thereunder,9

because it establishes or changes a due, 

fee, or other charge imposed by the 

Exchange. Accordingly, the proposal 

will take effect upon filing with the 

Commission. 

At any time within 60 days of the 

filing of the proposed rule change the 

Commission may summarily abrogate 

such rule change if it appears to the 

Commission that such action is 

necessary or appropriate in the public 

interest, for the protection of investors, 

or otherwise in furtherance of the 

purposes of the Act. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–BSE–2007–15 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Nancy M. Morris, Secretary, 

Securities and Exchange Commission, 

Station Place, 100 F Street, NE., 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–BSE–2007–15. This file 

number should be included on the 

subject line if e-mail is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for inspection and copying in 

the Commission’s Public Reference 

Room. Copies of such filing also will be 

available for inspection and copying at 

the principal office of the BSE. All 

comments received will be posted 

without change; the Commission does 

not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–BSE–2007–15 and should 

be submitted on or before May 11, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.10

Nancy M. Morris, 

Secretary. 

[FR Doc. E7–7552 Filed 4–19–07; 8:45 am] 

BILLING CODE 8010–01–P 


sroberts on PROD1PC70 with NOTICES